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cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we've got to keep pushing on or the world is going to end and it's not as bad a the politicians are pretending it is even. look, it's not a good thing, but psyched into a level and it will be worse than the real effect of having the tax increase on the government level and that's the danger, using it as a tool to get their policies on boats sides of doing this, and they're going to cause -- the first recession is caused by psyching themselves into it and making people scared that things are going to end if we let it happen. >> toby, the final word here? >> yeah, now, we've seen this movie before and know how it ends and now, at some point, it's start after tragedy
cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we've got to keep pushing on or the world is going to end...
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your kids probably know about the fiscal cliff. this is a new moment, which is filled with guys, but that it is also an opportunity, which is if we can't do it now or this member of congress new changes have to be made in may for the ness partner with these changes need to be, but something forces them to do it, and this is the best move that we've had. let's hope we don't go through these political values for they fight it out and we are almost frustrated because they can't cover and the headline the next day after wachovia put together since the u.s. still faces a huge fiscal problem. what we really want to do is put in place a plan big enough to fix the problem and that's going to be what's going to have the upside of the certainty of stability around the corner and importantly finally showing to all of us that this country can govern itself. the whole world is watching right now i'm rooting for us. people want the united states to claim out and fix this problem and the clock is ticking as we wait to see if they'll be able to do
your kids probably know about the fiscal cliff. this is a new moment, which is filled with guys, but that it is also an opportunity, which is if we can't do it now or this member of congress new changes have to be made in may for the ness partner with these changes need to be, but something forces them to do it, and this is the best move that we've had. let's hope we don't go through these political values for they fight it out and we are almost frustrated because they can't cover and the...
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that's the words from the gop on fiscal cliff talks. but exactly where is that? and how will congress and the white house get somewhere? >>> the tug-of-war in the middle east. some new wrinkles that beg the question, is any resolution in sight for israel and the palestinians? >>> unsolved mystery. that huge powerball jackpot raised some unanswered questions beyond who won. >>> having their cupcake and eating it, too. big new twist in the hostess going out of business story. good morning, everyone. welcome to "weekends with alex witt." let's get to what's happening right now out there. there is new intrigue in the fight over the fiscal cliff talks today. both sides have messages out this morning that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for c
that's the words from the gop on fiscal cliff talks. but exactly where is that? and how will congress and the white house get somewhere? >>> the tug-of-war in the middle east. some new wrinkles that beg the question, is any resolution in sight for israel and the palestinians? >>> unsolved mystery. that huge powerball jackpot raised some unanswered questions beyond who won. >>> having their cupcake and eating it, too. big new twist in the hostess going out of business...
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but if you do have cash and we have a sell-off because congress fails to bridge this fiscal cliff, we think it will be an extraordinarily good buying opportunity and you should be able to take advantage of that. >> tom: when we saw the first tarp legislation fail in the house, the s & p 500 lost more than 8% in a single day. could we see that kind of violent reaction? >> oh, absolutely. and, you know, it will be the market's way of saying to congress, "ladies and gentlemen, you made a mistake. let's get back into session and have another vote on this." because the full effects of the fiscal cliff does spell a recession at some point in 2013. and no politician-- democrat or republican-- wants to see that. >> tom: with that in mind, last time we spoke with you it was june and the european debt crisis was in the headlines. now it's the fiscal crise here in the united states. yet, the market has continued to climb. so what does that tell you about the underlying shape of the stock market? >> well, i think it says there is momentum in this market. the market believes that there will be a s
but if you do have cash and we have a sell-off because congress fails to bridge this fiscal cliff, we think it will be an extraordinarily good buying opportunity and you should be able to take advantage of that. >> tom: when we saw the first tarp legislation fail in the house, the s & p 500 lost more than 8% in a single day. could we see that kind of violent reaction? >> oh, absolutely. and, you know, it will be the market's way of saying to congress, "ladies and gentlemen,...
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doesn't drive us off the fiscal cliff so evidence is mounting. now is it time for the gop to reposition itself to get in on a brightening economic picture? want to bring in two conservative cnn contributors, anna navarro in cambridge, massachusetts and will cain here with me. republicans lost with a campaign focused on what they turned as a failed obama economy. is it time for them to change their message on the economy? >> well, look, i'm happy you're talking about the economy because i think the lesson that too many republicans and democrats for that matter are taking from this election is it's all about demographics. the republicans lost latinos because of immigration, for example, or the youth for a variety of reasons. those are all true, but focusing on that too narrowly denies that there is a problem with the republicans economic message. here's my small criticism of you, christine. >> make sure it's narrow. >> i think it's a larger macro view over elections. look, republicans have lost five of the last six popular votes for president. i th
doesn't drive us off the fiscal cliff so evidence is mounting. now is it time for the gop to reposition itself to get in on a brightening economic picture? want to bring in two conservative cnn contributors, anna navarro in cambridge, massachusetts and will cain here with me. republicans lost with a campaign focused on what they turned as a failed obama economy. is it time for them to change their message on the economy? >> well, look, i'm happy you're talking about the economy because i...
SFGTV: San Francisco Government Television
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we all need to focus very closely on the fiscal cliff and sequestration cuts that it includes. the impacts on san francisco could be devastating. until we have more clarity, what congress as a whole might or might not do we will need to remain vigilant about protecting our reserves and the city's financial position. that said i'm encouraged by the reelection of president obama and certainly for the leadership that leader pelosi has given and will continue to give. we will need their leadership as the president must quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration
we all need to focus very closely on the fiscal cliff and sequestration cuts that it includes. the impacts on san francisco could be devastating. until we have more clarity, what congress as a whole might or might not do we will need to remain vigilant about protecting our reserves and the city's financial position. that said i'm encouraged by the reelection of president obama and certainly for the leadership that leader pelosi has given and will continue to give. we will need their leadership...
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so, what's in our control, should we go off that fiscal cliff because of congress's inactivity? >> more than you would think. the first thing, take a look at long-term capital gains and you've probably been hearing this in the news, if you've held a stock for a long time. you know, you had a position and it's how to gain, is this the right time to possibly sell that? and you're taking that gain against the lower tax rates at this point. but, again, it's not a one size fit all solution. really, so much of revolves around where you are in the retirement process, if you will, and with the graying of america, the aging of america, this affects millions of people. for example, are you just getting ready to retire? and you'll no longer be a w-2 employee? that could change your tax bracket. sit down and talk with somebody, when is the best time to take those gains. there's another issue, too, with retirement that people don't realize is out there, fiscal cliff or not. and that's your required minimum distributions. this is an area that we see as very confusing to seniors. what happens
so, what's in our control, should we go off that fiscal cliff because of congress's inactivity? >> more than you would think. the first thing, take a look at long-term capital gains and you've probably been hearing this in the news, if you've held a stock for a long time. you know, you had a position and it's how to gain, is this the right time to possibly sell that? and you're taking that gain against the lower tax rates at this point. but, again, it's not a one size fit all solution....
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while workers kept up with the christmas rush he discussed the fiscal cliff and how congress can prevent it. >> if congress does nothing every family will see their income taxes automatic go up at the beginning of next year. a normal middle class family of four will see them rise by $2,200. >> he urged congress to pass a law that would prevent the tax hike. >>> house speaker said fiscal talks are going nowhere. >> i'm willing to move forward in good faith. our framework still stands. instead of raising tax rates we can produce similar amount of revenue, reforming the tax code to close loopholes and lower tax rates. >> the speaker said the two sides are at a stalemate. if nothing is done hundreds of billions of dollars of tax increases and spending cuts will happen january 1st. >> the oakland mayor has appointed her deputy mayor. he will start his new position on monday. he was co chair of her campaign. before getting elected to the assembly in 2006. >> berkeley police are asking for the public's help as they search for a man accused of touching a student. the student was walking between
while workers kept up with the christmas rush he discussed the fiscal cliff and how congress can prevent it. >> if congress does nothing every family will see their income taxes automatic go up at the beginning of next year. a normal middle class family of four will see them rise by $2,200. >> he urged congress to pass a law that would prevent the tax hike. >>> house speaker said fiscal talks are going nowhere. >> i'm willing to move forward in good faith. our...
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surrounding the fiscal cliff. this is a mess created by congress. we are asking the same people to clean up this mess and all the others that we keep creating. you know the numbers. congress is spending a trillion dollars more each year than with the treasury brings in. the tax the rich idea brings in about $100 billion. that leaves us still at about 900 billion short of revenues. then what? welcome this past week i saw three balloons. one was to reduce or eliminate the mortgage deduction. other was deductions for attorneys, and the third was to figure out some way to get attacks on your 401k. i bet you that the fuel tax deduction, but that goes away as well. meaning that yr take-home pay in january will be less. don't be shocked. do youthink they would stop
surrounding the fiscal cliff. this is a mess created by congress. we are asking the same people to clean up this mess and all the others that we keep creating. you know the numbers. congress is spending a trillion dollars more each year than with the treasury brings in. the tax the rich idea brings in about $100 billion. that leaves us still at about 900 billion short of revenues. then what? welcome this past week i saw three balloons. one was to reduce or eliminate the mortgage deduction....
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., and these days most of congress is focused on the fiscal cliff. but for some classes, it's been orientation time. that's when new senators learn their way around the capitol. among them is 32-year-old eric swalwell, an alameda county assistant d.a., he defended a fellow democrat in the district stretching from hayward to dublin. i spoke to swalwell earlier this evening from capitol hill. >> congressman eric swalwell, thanks for joining us. >> happy to be here. >> you've been to orientation for a couple weeks. what have you learned? >> this is the end of the second week of orientation. i was here right after the election. now we know where our office is going to be, we've hired staff and i've learned how the house floor proceedings worked, you know, how we can best represent the people in the 15th congressional district. we have a lot of ideas i learned in the campaign, and now we know where to take those ideas, how to make them go through the legislative process and get them on the floor, so hopefully my colleagues and i can work together to help
., and these days most of congress is focused on the fiscal cliff. but for some classes, it's been orientation time. that's when new senators learn their way around the capitol. among them is 32-year-old eric swalwell, an alameda county assistant d.a., he defended a fellow democrat in the district stretching from hayward to dublin. i spoke to swalwell earlier this evening from capitol hill. >> congressman eric swalwell, thanks for joining us. >> happy to be here. >> you've...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security, we are joined by hammer and -- admiral james lyons. they to have you back with us. your thoughts on the impact of sequestration is, indeed, it goes into affect year. >> in the words of the secretary of defense, leon panetta, this will be a disaster. what the obama administration is doing is unilaterally reducing the military capability of our forces. this is at a time when we have china with its massive force expansion, building a world capable force projection capability. we have the russians modernizing the russian forces. we still have the iranian problem totally unr
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security,...
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not only is he in a staredown with congress over the fiscal cliff. but a choice for his cabinet may come at the end of this month. and his choice may be a surprising one. we're talking about the top spot for the defense department. >> reporter: we were talking that the president probably next week who he would like to go to the state department. but maybe he's going to do a package deal next week. state department nominee, as well as defense department nominee. and there could be a couple of surprises here. these are the names we've been hearing over the last couple weeks. one is interesting. chuck hagel, a former senator. he's a republican. also, john kerry, currently in the senate. michelle flournoy. hagel would be an interesting pick. if he picks hagel, a republican, that takes some of the heat off of susan rice to be nominated as secretary of state. she's had a tough time on capitol hill talking to republicans. if you get a package deal, a republican and a democrat, that you're nominating from the president. what are senators going to do, but tak
not only is he in a staredown with congress over the fiscal cliff. but a choice for his cabinet may come at the end of this month. and his choice may be a surprising one. we're talking about the top spot for the defense department. >> reporter: we were talking that the president probably next week who he would like to go to the state department. but maybe he's going to do a package deal next week. state department nominee, as well as defense department nominee. and there could be a couple...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. look, if youave co like me, you know it can be hard to breathe, and howhat feels. copd includes chronic bronchitis and emphysema. spiriva helps contl my copd mptotoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva ishe only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalationowder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. scuss all medicines you take, even eye drops. stop taking spiriva and seek imdiate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain or problems passing urine. other side effects include drmouth and
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. look, if youave co like me, you know it can be hard to breathe, and howhat feels. copd includes chronic bronchitis and emphysema. spiriva helps contl my copd mptotoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva ishe only...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. ♪ get out of my booth!!! [ male announcer ] frost brewed coors light. the world's most refreshing beer. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and af
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's...
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the fiscal cliff. but so far it's not looking like either side is willing to compromise. >> our next guest says there has been a failure in leadership to solve this crisis. joining us now is texas congressman louie gohmert. nice to see you. >> nice to see you. >> this is not necessarily against the president you have blasted g.o.p. leaders this week for a failure to lead basically saying we need to stand on our principles. they have a delegate -- delicate position to deal with. >> up until last week there had been a failure of leadership. the president out there finally pushing so far look we are going to forget the constitution. i'm going to basically pronounce law as i speak it congress hasn't done what i wanted, so we're just gonna ignore congress' constitutional right to appropriate. congress' constitutional right to set debt ceilings and we're going to ignore that that's what basically -- geithner basically announced. speaker boehner said look we can't allow that to happen. the fact is we can't. i
the fiscal cliff. but so far it's not looking like either side is willing to compromise. >> our next guest says there has been a failure in leadership to solve this crisis. joining us now is texas congressman louie gohmert. nice to see you. >> nice to see you. >> this is not necessarily against the president you have blasted g.o.p. leaders this week for a failure to lead basically saying we need to stand on our principles. they have a delegate -- delicate position to deal...
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tonight, and look at the white house and congress and how they are addressing the so-called fiscal cliff. first, president obama speaks in pennsylvania, followed by john boehner responded to the president from capitol hill. then eric cantor response of the lighthouse deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel glickman for hosting me today and giving me a great tour. stand up so everybody can see you, guys. [cheers and applause] there you go. we have a couple of outstanding members of congress here. [cheers and applause] now, i just finished getting a tour of the workshop. i have to say it makes me wish that joel invented t
tonight, and look at the white house and congress and how they are addressing the so-called fiscal cliff. first, president obama speaks in pennsylvania, followed by john boehner responded to the president from capitol hill. then eric cantor response of the lighthouse deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than...
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visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> it is not acceptable for you for the handful of republicans and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on both sides said mcconnell burst out in laughing. house republicans offered a somber assessment. >> this is not a game. >> it was not a serious proposal. and right now, we're almos
visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for...
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tonight, president obama warning of a grinch christmas if congress goes off the fiscal cliff. while a family in missouri is planning a pretty good holiday after winning more than $100 million. what the power ball winners plan to do with all that cash. the hill family, come on up. >> now they are talking about what it was like when they realized their numbers had come up. >> i said we have won the lottery i said what? >> my dad called me 8:30 in the morning and it was probably almost noon before i moved again. >> shepard: special request from the winner's daughter. >> jayden what did you want for christmas? >> a pony. >> shepard: shouldn't be a problem. does this surveillance video actually show a man realizing that he is one of the power ball winners? >> he gave me the ticket and said did i really win? >> the moment apparently one learned that he is a multimillionaire. and battle for control of the internet. >> the rumor that has leaked out has kind of been terrifying. >> more than 190 nations considering how to regulate the worldwide web. and experts say their decisions could
tonight, president obama warning of a grinch christmas if congress goes off the fiscal cliff. while a family in missouri is planning a pretty good holiday after winning more than $100 million. what the power ball winners plan to do with all that cash. the hill family, come on up. >> now they are talking about what it was like when they realized their numbers had come up. >> i said we have won the lottery i said what? >> my dad called me 8:30 in the morning and it was probably...
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congress as the clock winds down we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg3 delivers we'll be doing well. >> do you see him somebody as you a neither? >> absolutely. this guy sim oppressive. >> reporter: former republican vice presidential nominee paul ryan usually doesn't stop for hallway interviews but he made an exception to praise rg3 even though a congressman from wisconsin has to put the packers first. >> i like to think more that green bay is america's team. we can think the same way. look rg3 it's great to see a young guy come out and be successful. >> reporter: even the majority leader is inspired by rg3. >> he offers bipartisan hope. we hope the redskins have a successful season. >> it's probably like covering bruce springsteen. >> reporter: sports writer is writing a series on robert griffin iii for "the washington post." >> this town obama or rg3 who is the bigger figure in town? who owns this town? it's really one or the other. you flip a wine. >> great young man and a heck of a lot of fun to watch and i wish him all th
congress as the clock winds down we're in the fourth quarter as we approach the fiscal cliff. if we can deliver like rg3 delivers we'll be doing well. >> do you see him somebody as you a neither? >> absolutely. this guy sim oppressive. >> reporter: former republican vice presidential nominee paul ryan usually doesn't stop for hallway interviews but he made an exception to praise rg3 even though a congressman from wisconsin has to put the packers first. >> i like to think...
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to act and avoid the fiscal cliff. if not, he says, taxes go up for everyone, including the middle class. >> it's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: with the election over the president has begun a new kind of campaign, for votes in congress. a series of white house meetings with business leaders, a grassroots effort on twitter, and friday's trip to an area rich in swing congressional districts. asking the public to tell republicans, allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue, about half coming from higher rates for the wealthy. 600 billion in cuts to domestic programs like medicare. and 50 billion in new inf
to act and avoid the fiscal cliff. if not, he says, taxes go up for everyone, including the middle class. >> it's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: with the election over the president has begun a new kind of campaign, for votes in congress. a series of white house meetings with business leaders, a grassroots effort on twitter, and friday's trip to an area rich in swing congressional districts. asking the public to tell...
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. >>> both president obama and speaker john boehner took turns today finger pointing on the fiscal cliff talks. take a listen to this. >> it's not acceptable to moo a me to you for members of congress to hold middle class tax cuts to hostage simply because they don't want tax rates on upper income folks to go up. >> the white house spent three weeks trying to develop a proposal, and they send one up here that calls for $1.6 trillion in new taxes, calls for a little not even $400 billion in cuts. it was not a serious proposal. >> all right. so where are we right now? even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've se
. >>> both president obama and speaker john boehner took turns today finger pointing on the fiscal cliff talks. take a listen to this. >> it's not acceptable to moo a me to you for members of congress to hold middle class tax cuts to hostage simply because they don't want tax rates on upper income folks to go up. >> the white house spent three weeks trying to develop a proposal, and they send one up here that calls for $1.6 trillion in new taxes, calls for a little not even...
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it's just like the fiscal cliff right now. this was designed to force congress to deal with the deficit. now senate majority leader harry reid is proposing changes to the filibuster that might make senate lesseesy. right now senators can block motions to proceed which means the senate can't even debate the legislation in question. president obama realizing the stakes for his second term agenda endorsed those changes on tuesday. white house communications director dan pfeiffer said in a state, the president supports sen tor reid's reform the filibuster. he has a chance to change the filibuster with a 51% majority. he is getting close to getting that majority. republicans, meanwhile, are apoplectic. mitch mcconnell has accused reid of throwing a bomb into the senate. john boehner said he will block it if the filibuster is curtailed. all right. let's start at the most basic principle level. before we get into the weeds of senate procedure and the current reform rules on the table, i would like to put forth the proposition that th
it's just like the fiscal cliff right now. this was designed to force congress to deal with the deficit. now senate majority leader harry reid is proposing changes to the filibuster that might make senate lesseesy. right now senators can block motions to proceed which means the senate can't even debate the legislation in question. president obama realizing the stakes for his second term agenda endorsed those changes on tuesday. white house communications director dan pfeiffer said in a state,...
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a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a swdown in consumer spending. after all, where would the chinese and their economy be if it weren't for america? that's right. a lot more to come durg this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. but will it damage your gerri: lok, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980.
a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a swdown in consumer spending. after all, where would the chinese and their economy be if it...
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edges steadily closer to the fiscal cliff, there are high level talks between the white house and congress. can they cut a deal in time? as mexico's bloody drug wars claim another high profile victim can a new leader end the violence. i'll speak exclusively with mexico's new president. and it was hidden away for decades. we'll take the wraps off a long secret u.s. plan to explode a nuclear bomb on the moon. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer and you're in the situation room. >>> we begin with huge confrontations shaping up between president obama and republicans involving the most important decisions the president needs to make in his second term. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one
edges steadily closer to the fiscal cliff, there are high level talks between the white house and congress. can they cut a deal in time? as mexico's bloody drug wars claim another high profile victim can a new leader end the violence. i'll speak exclusively with mexico's new president. and it was hidden away for decades. we'll take the wraps off a long secret u.s. plan to explode a nuclear bomb on the moon. we want to welcome our viewers in the united states and around the world. i'm wolf...
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fiscal cliff. the president was at the factory of kinex toys. let's get some insight on that visit from someone who was there. michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at the larger context. the larger context is we have a math problem. we have $2.5 trillion that we're taking in every year on the federal government and $3.5 trillion that we're spending. so, we're going to need a balanced approach of both revenue and spendi
fiscal cliff. the president was at the factory of kinex toys. let's get some insight on that visit from someone who was there. michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the...
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congress is headed home for the weekend, with the fiscal cliff deadline now just one month away. >> brown: still to come on the newshour: the fight over the filibuster; the state of the aids epidemic; shields and brooks; and the age of an american landmark. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: by the thousands, egyptians poured into the streets today to protest against president mohammed morsi. they attacked morsi's move to assume sweeping new powers and condemned a new constitution that was approved overnight by the president's islamist allies. opposition leaders joined the vast crowds in cairo's tahrir square today, and they vowed their protest would be open- ended. >> the message is clear. no one should think that the egyptian people are not capable. the egyptian people have moved from the level where they were told what to do to the level of real sovereignty. the egyptian people have to be heard. they have to consider the opinion of the egyptian people on any political decision. >> sreenivasan: the draft constitution drops language on women's
congress is headed home for the weekend, with the fiscal cliff deadline now just one month away. >> brown: still to come on the newshour: the fight over the filibuster; the state of the aids epidemic; shields and brooks; and the age of an american landmark. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: by the thousands, egyptians poured into the streets today to protest against president mohammed morsi. they attacked morsi's move to assume sweeping...
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guest: some that have expired that are part of the fiscal cliff package. they get much less attention than the bush tax cuts. they are part of the packet of decisions that congress has to make. host: we can go into debt but to highlight four -- let's start with the child tax credit. what is it? guest: this is a credit that applies to families, some that you can use if you make up to $130,000. it is they $1,000 credit for each child. unless congress acts, that 10000 tax credit will become $500, but becomes less valuable. you can make up to $130,000. host: that is the child tax credits. guest: almost 24 million families claimed it in 2009. it is one of the bigger tax credits out there. host: the next one would be the child and dependent care tax credit. guest: is a credit between 20% and a 30% and goes up to $3,000. it helps families with their expenses for child care or if they have dependents and things like that. you can basically claim a credit of $3,000. host: for child care purposes? guest: this helps with dependents. host: the earned income tax credit
guest: some that have expired that are part of the fiscal cliff package. they get much less attention than the bush tax cuts. they are part of the packet of decisions that congress has to make. host: we can go into debt but to highlight four -- let's start with the child tax credit. what is it? guest: this is a credit that applies to families, some that you can use if you make up to $130,000. it is they $1,000 credit for each child. unless congress acts, that 10000 tax credit will become $500,...
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a look back now at the week that was. >> the fiscal cliff now just 34 days away. >> we only have a couple weeks to get something done. >> this is not a game. >> i'll sign this bill as soon as congress sends it me way. >> susan rice faces more backlash. >> i still have many questions that remain unanswered. >> there are no unanswered questions. >> somebody somewhere is waking up filthy stinking rich. >> lottery mascot doing gangnum style for us this morning. >> the week centered on a big worry. >> this fiscal cliff. >> fiscal cliff. >> we could go off this fiscal cliff. >> we are facing a fiscal grand canyon. >> reporter: it's a big deal, question is, can these guys strike a deal? >> i have to repeat, i have a pen. >> reporter: meantime, damage control for u.n. ambassador susan rice, how to smooth things over this week with republicans after those benghazi talking points. >> extremist elements came to the consulate as this was unfolding. >> reporter: the didn't work, now, their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> reporter: dem
a look back now at the week that was. >> the fiscal cliff now just 34 days away. >> we only have a couple weeks to get something done. >> this is not a game. >> i'll sign this bill as soon as congress sends it me way. >> susan rice faces more backlash. >> i still have many questions that remain unanswered. >> there are no unanswered questions. >> somebody somewhere is waking up filthy stinking rich. >> lottery mascot doing gangnum style for...
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. >> the fiscal cliff, now just 34 days away. >> we only have a couple weeks to get something done. >> listen, this is not a game. >> you'll sign this bill as soon as congress sends it my way. >> susan rice faces more backlash. >> i still have many questions that remain unanswered. >> there are no unanswered questions. >> somebody somewhere is waking up filthy stinking rich. >> lottery mascot doing "gangnam style" for us this morning. >> money, politics and the mix dominated this week that was. the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say
. >> the fiscal cliff, now just 34 days away. >> we only have a couple weeks to get something done. >> listen, this is not a game. >> you'll sign this bill as soon as congress sends it my way. >> susan rice faces more backlash. >> i still have many questions that remain unanswered. >> there are no unanswered questions. >> somebody somewhere is waking up filthy stinking rich. >> lottery mascot doing "gangnam style" for us this...
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cliff. republicans have put some proposals on the table moving in barack obama's direction. i don't know exactly what the game that tim geithner was playing yesterday. not only, and thank you, erin, for getting some of this math right. the president said 2.5 for every tax increase and yesterday he came up with $4 of new taxes for every dollar of spending cuts. that's when john boehner simply said we're nowhere. >> ethan, don't the republicans if they want to break this stalemate, maybe what the president's doing is saying these are the cuts i want to make, so guys, why don't you come up with the rest? >> i don't think that's really a fair criticism. republicans have passed the budget that paul ryan put together. now, you may not agree with that budget, but it does outline specific cuts. republicans are on the record for those and would probably say here's our list of cuts, mr. president. where's your list? >> the president has other things he may not have included. ethan, so the republicans
cliff. republicans have put some proposals on the table moving in barack obama's direction. i don't know exactly what the game that tim geithner was playing yesterday. not only, and thank you, erin, for getting some of this math right. the president said 2.5 for every tax increase and yesterday he came up with $4 of new taxes for every dollar of spending cuts. that's when john boehner simply said we're nowhere. >> ethan, don't the republicans if they want to break this stalemate, maybe...
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the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges of medicare and medicaid would be enough, or that the health law is in touch and a perform. they argue we do not need to examine the structural problems. make no mistake about it then been shoring up medicare and medicaid will not be easy. the situation has become so severe, it is the only responsible course to take them back in just over a decade medicare will be bankrupt. medicare beneficiaries receive $3 in benefits for every $1 they pay into the system. that is while 10,000 more americans join this program every day. the number of workers supporting it has declined by over 18% over the last d
the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges...
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. >>> it may be the republicans biggest weapon in the fiscal cliff debate and democrats are trying to remove it permanently. this week, treasury secretary timothy geithner took a proposal to gop leaders that significantly restrict congress' authority over the debt limit. house speaker john boehner pushing back maintaining a debt ceiling increase would need to be matched by spending cuts. >> if we're going to talk about the debt limit in this, then, there's going to be some price tag associated with it. i continue to believe that any increase in the debt limit has to be aacademied by spending reductions that meet or exceed it. >> joining me now, political anchor "new york one news" and co-editor of "scandals, tragedies and trumps triumphs." senior ederter for politics and news at yahoo! news. she has become a weekend pal. thanks for being back with us, both of you. let's start with the debt limit, we're talking about the debt limit, again. do republicans believe this is their ace in the hole? >> i sure hope they don't. i think the president has the stronger hand on this. number one, he
. >>> it may be the republicans biggest weapon in the fiscal cliff debate and democrats are trying to remove it permanently. this week, treasury secretary timothy geithner took a proposal to gop leaders that significantly restrict congress' authority over the debt limit. house speaker john boehner pushing back maintaining a debt ceiling increase would need to be matched by spending cuts. >> if we're going to talk about the debt limit in this, then, there's going to be some price...
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have a great weekend. >>> the fiscal cliff talks just turned into the godfather. part 2. >> america only thrives when we have a strong and growing middle class. >> the president hits the road today. >> back on the road today. >> to sell his proposal to avoid the fiscal cliff. >> we've got important decisions to make. >> obama played a kind of hard ball. >> let's play hall. >> all of us have to get out of our comfort zones to make that happen. >> we are ready to work for the president. >> buffed the president's proposal. >> the wrong approach. >> tim geithner brought them a deal. >> it didn't go bellwell. >> they thought was lewdrous. >> gave republicans nothing. >> my offer is this. >> my offer is this. >> nothing. >> nothing. >> republicans were very much offended. >> mitch mcconnell lasted at the offer. >> burst into laughter. >> laughing at the president's package -- >> that catch them by surprise at all? >> they have to come up with their pennsylvania package. >> we are ready to work with him. >> i promise ton laugh at it. >> we can solve these problems. >> we
have a great weekend. >>> the fiscal cliff talks just turned into the godfather. part 2. >> america only thrives when we have a strong and growing middle class. >> the president hits the road today. >> back on the road today. >> to sell his proposal to avoid the fiscal cliff. >> we've got important decisions to make. >> obama played a kind of hard ball. >> let's play hall. >> all of us have to get out of our comfort zones to make that...
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the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges of medicare and medicaid would be enough, or that the healthcare law is entitlement reform. they argue we do not need to examine the structural problems. make no mistake about it. shoring up medicare and medicaid will not be easy. the situation has become so severe, it is the only responsible course to take. in just over a decade medicare will be bankrupt. medicare beneficiaries receive $3 in benefits for every $1 they pay into the system. that is while 10,000 more americans join this program every day. the number of workers supporting it has declined by over 18% over the last decade. the average
the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges...
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. >>> by now, i know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes bac
. >>> by now, i know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it...
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it will fix the problem and the deficit problem as long as everything in the fiscal cliff happens. as long as sequestration happens it will hurt defense. tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and then when the economy nose dives he will have to own it. republicans are going to get blamed anyway. do you feel strong about either one of those? >> dana: not necessarily. i do think i see in "washington post," headline, obama offers plan for cliff. plan to be in quotes. the thing that amazes me and the media lets it happen. for eight years or longer now. i had to defend how many times people said on the left, including president obama when he was
it will fix the problem and the deficit problem as long as everything in the fiscal cliff happens. as long as sequestration happens it will hurt defense. tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans...
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they also have to help us avoid the fiscal cliff. as if that was not bad enough, according to a recent gallup poll, only 18% of americans say they approve of the job that lawmakers are doing on capitol hill. and does the republican party's hope for 2016 lie deep in the heart of texas? that's the buzz about state senator-elect ted cruz, who says the gop needs to be more articulate in its message and rebrand itself under a banner he calls, quote, and remember these words. you'll hear them again, "opportunity conservatism." opportunity conservatism. even though his second inauguration is weeks away, president obama is prepping for another campaign. this one to raise money to build his official library. presidential libraries are a chance for every leader of the free world to shape his or her legacy. while it's an honorable project, it takes years of planning and a whole lot of money to do it. >>> well, could the end be near? new indications the administration sees the end of the war on terror. what does that mean for detainees at guanta
they also have to help us avoid the fiscal cliff. as if that was not bad enough, according to a recent gallup poll, only 18% of americans say they approve of the job that lawmakers are doing on capitol hill. and does the republican party's hope for 2016 lie deep in the heart of texas? that's the buzz about state senator-elect ted cruz, who says the gop needs to be more articulate in its message and rebrand itself under a banner he calls, quote, and remember these words. you'll hear them again,...
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so you say this fiscal cliff, its fiscal nuclear bomb. what are some of the elements that concern you most? >> let's starts with this was something created by congress and signed into law by president obama. so this is not a tsunami that just came by accident, mother nature. this was created by our elected public officials. should it go off, it will be nothing short of a nuclear weapon, a fiscal nuclear weapon. we have not only the increasing of capital gains taxes and marginal tax rates but 26-28 million americans are going to be subject to the alternative minimum tax. that is potentially $3700 additional tax liability. we have the elimination of the 2% social security benefit and up to $55 billion on the social programs. $55 billion out of defense on and on. this will be nothing short of a nuclear catastrophe. >> heather: we keep hearing how this is going to affect the higher income people. according to the congressional budget office, all americans will be affected if the deal is not reached. not just in terms of revenue but job loss.
so you say this fiscal cliff, its fiscal nuclear bomb. what are some of the elements that concern you most? >> let's starts with this was something created by congress and signed into law by president obama. so this is not a tsunami that just came by accident, mother nature. this was created by our elected public officials. should it go off, it will be nothing short of a nuclear weapon, a fiscal nuclear weapon. we have not only the increasing of capital gains taxes and marginal tax rates...